Cellebrite DI (NASDAQ:CLBT) Receives Buy Rating from Needham & Company LLC

Cellebrite DI (NASDAQ:CLBT - Get Free Report)'s stock had its "buy" rating restated by analysts at Needham & Company LLC in a report released on Thursday,Benzinga reports. They currently have a $28.00 target price on the stock. Needham & Company LLC's target price points to a potential upside of 45.48% from the company's current price.

Several other brokerages also recently weighed in on CLBT. JPMorgan Chase & Co. increased their target price on shares of Cellebrite DI from $24.00 to $28.00 and gave the company an "overweight" rating in a research note on Tuesday, February 11th. Lake Street Capital increased their price objective on shares of Cellebrite DI from $17.00 to $26.00 and gave the stock a "buy" rating in a research report on Friday, February 14th. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $23.43.

Cellebrite DI Price Performance

Shares of NASDAQ CLBT traded down $0.21 during mid-day trading on Thursday, hitting $19.25. 606,981 shares of the company's stock traded hands, compared to its average volume of 1,393,143. The company has a market capitalization of $4.61 billion, a P/E ratio of -13.81, a PEG ratio of 4.27 and a beta of 1.52. Cellebrite DI has a 1 year low of $10.25 and a 1 year high of $26.30. The company's 50-day moving average is $20.85 and its two-hundred day moving average is $19.91.

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Cellebrite DI (NASDAQ:CLBT - Get Free Report) last posted its quarterly earnings data on Thursday, February 13th. The company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.03). Cellebrite DI had a negative net margin of 70.54% and a positive return on equity of 58.70%. Equities analysts anticipate that Cellebrite DI will post 0.3 EPS for the current fiscal year.

Hedge Funds Weigh In On Cellebrite DI

Several institutional investors have recently made changes to their positions in CLBT. True Wind Capital Management L.P. lifted its stake in Cellebrite DI by 18.2% in the fourth quarter. True Wind Capital Management L.P. now owns 13,861,007 shares of the company's stock worth $305,358,000 after acquiring an additional 2,130,386 shares during the period. FMR LLC raised its holdings in shares of Cellebrite DI by 89.1% in the 4th quarter. FMR LLC now owns 10,621,344 shares of the company's stock valued at $233,988,000 after purchasing an additional 5,004,587 shares in the last quarter. Axon Enterprise Inc. purchased a new stake in shares of Cellebrite DI in the 4th quarter worth approximately $198,270,000. Voss Capital LP boosted its stake in shares of Cellebrite DI by 1.2% during the fourth quarter. Voss Capital LP now owns 3,240,000 shares of the company's stock valued at $71,377,000 after purchasing an additional 39,700 shares in the last quarter. Finally, Pertento Partners LLP increased its holdings in Cellebrite DI by 26.7% during the fourth quarter. Pertento Partners LLP now owns 2,975,374 shares of the company's stock valued at $65,547,000 after buying an additional 626,373 shares during the period. Hedge funds and other institutional investors own 45.88% of the company's stock.

Cellebrite DI Company Profile

Cellebrite DI Ltd. develops solutions for legally sanctioned investigations in Europe, the Middle East, Africa, the Americas, and the Asia-Pacific. The company's DI suite of solutions allows users to collect, review, analyze, and manage digital data across the investigative lifecycle with respect to legally sanctioned investigations used in various cases, including child exploitation, homicide, anti-terror, border control, sexual crimes, human trafficking, corporate security, cryptocurrency, and intellectual property theft.